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Nissan expansion bill headed to governor's desk

The Mississippi House gave its final approval Monday to a bill lawmakers said will help create 800 to 1,000 new jobs at the Nissan plant in Canton.

The bill had been held on a motion to reconsider. It now goes to Gov. Phil Bryant for his consideration, said the bill's principal author, Sen. Will Longwitz, R-Madison.

"I'm very grateful for this victory for Mississippi. With another expansion at Nissan, we are leading the way in job creation and economic recovery," Longwitz said in a news release. "It's private financing for a private sector expansion, and it uses revenue bonds as a vehicle for doing it. Taxpayers aren't liable for this debt, and it will lead to economic expansion and job creation."

The bill allows the Madison County Economic Development Authority to issue $100 million in bonds, which would pay for three new buildings near the Nissan plant to be used by suppliers.

The debt would be repaid by Nissan's lease payments.

Nissan and contractors employ about 5,200 people at its Canton complex, which opened nearly 10 years ago. By the end of 2014, the company plans to make eight different vehicles there.

Copyright 2013 by WAPT.com. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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